The Reserve Bank of India on Thursday evening approved Jio Financial’s conversion from a Non-Banking Financial Company (NBFC) to a Core Investment Company (CIC), the company said in a filing.
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As India aims to become the world’s third largest economy soon, the banking sector is undergoing a decade-high performance in financial metrics, according to Swaminathan J, Deputy Governor of the Reserve Bank of India (RBI).
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This came after the Supreme Court in its order dated May 14, 2024, authorised Sebi to sell the assets of HBN Dairies & Allied Ltd (HBN) with the active involvement of the liquidator.
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In its report submitted with the Ministry of Corporate Affairs (MCA), the committee has suggested raising the turnover limit to Rs 75 crore in any of the past three years to maintain and audit cost records.
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The primary responsibility of corporate boards is to protect shareholders’ interests and ensure good governance, the chief of the audit regulator said.
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Paint shares surged due to price hikes, led by Indigo Paints at 10.7 per cent. Analysts foresee short-lived gains and pressure from Birla Opus. Nomura views price hikes favorably. Despite underperformance in 2024, Q1 earnings may be muted, keeping stocks…
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